Price Action: A strong downward move has just occurred, but now a bullish reversal (P) label is showing up after a bounce from recent lows. Price is currently around 3.22 after rebounding from sub-3.00 support.
Support Zone: There's a visible support level around 2.70, which hasn’t been breached. This gives a solid base for the bounce.
Momentum Indicator (bottom panel):
Oversold region was hit.
Indicator line has turned green, signaling a potential bullish momentum shift from the oversold zone.
Buy Signal Alignment: Multiple elements align—price bouncing from support, reversal signal “P”, and the oscillator turning from oversold—suggesting a high-probability bullish continuation, at least short-term.
Likely Prediction: Short-term bullish continuation is likely unless price fails to break above immediate resistance near 3.40. A sustained move above that level could signal a stronger trend reversal. If rejected, consolidation or another retest of support around 3.00–2.70 is possible.
XRPUSDT what a week! Caught the 4hr H/S for an insane gain on the way down. Reloaded longs @ 3.08 and saw a bull flag on the 15m around 9am and loaded more. What a nice move to see at lunch 🤩